10B.—(1) Advising a person is a controlled activity if the advice is—
(a)given to the person in his capacity as a borrower or potential borrower; and
(b)advice on the merits of his doing any of the following—
(i)entering into an agreement for the provision of qualifying credit, or
(ii)varying the terms of a regulated mortgage contract entered into by him after the coming into force of article 61 of the Regulated Activities Order in such a way as to vary his obligations under that contract.
(2) In this paragraph, “borrower” and “regulated mortgage contract” have the meaning given by article 61(3) of the Regulated Activities Order.